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Administering the trust created by the settlement of Archibald Douglas Monteath

 

 

 

 

 

 

 

 

Trustees Of The Late J. M. Douglas V. General Monteath
Douglas And Others.—Mar. 30.
Trust—Election.

In this case the Second Division, on the 18th December 18G3, appointed parties to be heard on the following points:—(1.) Whether the judicial factor, as representing and administering the trust created by the settlement of Archibald Douglas Monteath, is entitled to demand from James M. Douglas's trustees a conveyance of the estate of Stonebyres; and whether the said trustees are bound or entitled to make such conveyance, and if so, on what condition. (2.) On the assumption that the said judicial factor is not entitled to demand, or the said trustee entitled or bound to make, such conveyance, what amount the said factor is entitled to require shall be stated to the credit of Archibald's estate, in respect of the estate of Stonebyres, or of the money of Archibald's estate expended in the purchase or improvement thereof, in separating the trust fund and effects of Archibald Douglas Monteath from those of James Monteath Douglas; and with a view to the discussion of these questions, the Court appointed the trustees of James Monteath Douglas to state in a minute from what source the money expended in the purchase of the estate of Stonebyres was obtained; also what sums were expended, and at what time, on the improvement of said estate, etc. The trustees accordingly put in a minute stating, inter alia, that the estate of Stonebyres was purchased in November 1842 for the sum of L.25,500; that the late J. M. Douglas spent L.23,000 in permanently improving the estate; that the estate is now worth the original price, plus the sums expended in improving it. The judicial factor put in answers generally denying the statements in the minute, except as to the original price of Stonebyres. Counsel having .been heard, the case was advised tOtday. After 'finding' on the facts, their Lordships in an interlocutor say :—Find that in the event of the said factor and the said General Monteath Douglas electing not to take a conveyance of the said estate of Stonebyres, under the conditions foresaid, they will then be entitled in the accounting to receive payment of or credit for the said sum of L.2o,5()0 paid out of the funds of the said Archibald Douglas Monteath as the price of the said estate, with any interest that may, upon a just accounting, be held to accrue thereon, after making allowance for the liferent use and enjoyment by the said James Monteath Douglas of the said sum, as part of the residue of the said Archibald Douglas Monteath; and appoint the judicial factor of the said General Monteath Douglas to state in a minute in what way they intended to exercise the option to which they are entitled in terms of the above findings.71.

 

See also:
1. Archibald Douglas Monteath
2. Douglas V. Douglas Trustees

 

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Last modified: Saturday, 18 March 2017